The South Korean Government Announces “Venture Complementary Measures for Korea to Become One of the Top 4 Global Venture Powerhouses
- International Cooperation Division
- □ The South Korean Government announces “Venture Complementary Measures for Korea to Become One of the Top 4 Global Venture
Powerhouses” and 12 core tasks to firmly support the Second Venture Boom by providing political support to ensure sufficient “talented
individuals and funds” in the Korean venture ecosystem
□ Measures to improve the global competitiveness of Korean venture companies include:
① Stock option reform;
② Abolishment of sunset provision and a complete reform of the Act on Special Measures for the Promotion of Venture Businesses;
③ Increasing the maximum technology guarantee to 20 billion won;
④ Bringing in one trillion won for global venture funds;
⑤ Introducing a new climate response surety worth 500 billion won and investing in ESG venture companies, etc.
□ Measures to expand the venture investment market include:
⑥ New incentives for private investors of baby funds of the Fund of Funds and allow investment in kind for IP for venture funds;
⑦ Implementing a Silicon Valley-type venture fund governance;
⑧ Bringing in one trillion won for the early-stage start-up funds;
⑨ Exemption of surtax for accelerators, etc.
Please see the attached file.